Pension increase by RPI

[Old Bus Driver]

Can anyone tell me which months official RPI figure is used to adjust the military pension and when the adjustment takes place.

Thanks in advance.

[Pontius Navigator]

For a long time pensions were increased against the RPI. This has meant that pension increases have lagged behind pay increases for years.

I thought that they were going to change this so that pensions would be linked to wages. Now wouldn't that be rich if the government decided that now was a good time to make the change.


A real vote winner.

In the light of proposals from the Pensions Commission, the Government has published a Pensions Bill, setting-out its proposals for long-term pension reform. The Government proposes a National Pensions Saving Scheme for those not in an occupational or private pension scheme; the re-linking of the basic state pensions to earnings at some time between 2012 and 2015; a reduction in the number of contributions required for a full state pension, together with improved credits for carers; reform of the State Second Pension so that it become flat rate, rather than earnings-related; an increase in the state pension age to 66 from 2024, to 67 from 2034 and to 68 from 2044; and a streamlining of the regulatory environment

Last year average earnings increased between 3.5% and 3.7% whereas the RPI and pensions increased by 3.9%.

[cazatou]

Very Interesting.

What, however, are the Government's proposals regarding MP's Pensions?

[wobble2plank]

Very Interesting.

What, however, are the Government's proposals regarding MP's Pensions?

What?

Do you mean the system where you have to be elected to become a bumbling, incompetent buffoon, shuffled from job to job to ensure that you can adequately mess up the entire country.

Then, as long as you have achieved the highest accolade of not being kicked out of the Government, you can take your gold edged, final salary pension that the average man on the street would have to accrue 270 state pension years for?

Do you mean that one?

bloody :mad: the lot of em. Now wheres my pension?

[cazatou]

Wobble

I think you got it in one.

[Basil]

. . and I thoroughly applaud your reserve :ok:


wouldn't that be rich if the government decided that now was a good time to make the change.
. . which means that they now think that pay is about to start lagging behind RPI :*